REGISTERED CHARITY NUMBER: 262524 ## Report of the Trustees and ## Unaudited Financial Statements for the Year Ended 5 April 2023 ## for ## Four Winds Trust PPS Chartered Accountants 29 Devizes Road Swindon Wiltshire SN1 4BG Four Winds Trust ## Contents of the Financial Statements for the Year Ended 5 April 2023 |||Page|| |---|---|---|---| |Report of the Trustees|1|to|2| |Independent Examiner's Report||3|| |Statement of Financial Activities||4|| |Balance Sheet||5|| |Notes to the Financial Statements|6|to|8| |Detailed Statement of Financial Activities|9|to|10| Four Winds Trust ## Report of the Trustees for the Year Ended 5 April 2023 The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Charity was formed by Trust Deed on 3 May 1971 to support financially the furtherance of Christian work in the UK and overseas. It will also benefit, where thought fit, secular organisations, secular education and the relief of the poor and needy. Details of professional advisers are shown at the end of this report. ## FINANCIAL REVIEW ## Financial position During the year investment income totalled £33,890 (2022 £27,192) and payments for charitable purposes totalled £26,720 (2022 £26,745). Donations received totalled £900 (2022 £900) and gift aid received totalled £508 (2022 £Nil). Payments for administration and costs relating to investments were £10,528 (2022 £10,276) and independent examiners charges totalled £1,099 (2022 £759). Sale of investments realised £57,732 (2022 £163,759) and purchase of investments cost £24,129 (2022 £145,075). The investments, which are held for the long term, are shown at published market value. The stock market has shown a decrease in share prices, with investments at the date of these financial statements having fallen to £851,437 from £990,612 at the end of the previous year. The investments are managed by investment managers. The trustees consider that the only significant risk to the charity to meet its objects in future, is a significant reduction in investment income. They consider that this is highly unlikely as the Trust has appointed expert investment managers. The charity has continued to give support to many institutions and individuals in furtherance of its objects. The trustees plan the amount of support in line with the assessment of needs and available funds. The funds held are adequate to meet the ongoing needs of the charity. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## REFERENCE AND ADMINISTRATIVE DETAILS ## Registered Charity number 262524 Principal address 64 Station Road Drayton Portsmouth PO6 1PJ ## Trustees P J Charters S V Charters F M Charters S R Charters ## Independent Examiner Roger C Bloomer, FCA PPS Chartered Accountants 29 Devizes Road Swindon Wiltshire SN1 4BG Page 1 Four Winds Trust ## Report of the Trustees for the Year Ended 5 April 2023 Approved by order of the board of trustees on 20 November 2023 and signed on its behalf by: S V Charters - Trustee Page 2 ## Independent Examiner's Report to the Trustees of Four Winds Trust ## Independent examiner's report to the trustees of Four Winds Trust I report to the charity trustees on my examination of the accounts of Four Winds Trust (the Trust) for the year ended 5 April 2023. ## Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Roger C Bloomer, FCA PPS Chartered Accountants 29 Devizes Road Swindon Wiltshire SN1 4BG 20 November 2023 Page 3 Four Winds Trust ## Statement of Financial Activities for the Year Ended 5 April 2023 |Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
2
Other income
Total
EXPENDITURE ON
Raising funds
Other trading activities
Investment management costs
3
Charitable activities
Donations
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD|5.4.23
Unrestricted
fund
£
900
33,890
58,240
93,030
1,099
10,528
11,627
26,720
24,129
62,476
(50,590)
(20,036)
1,220,093
1,200,057|5.4.22
Total
funds
£
900
27,192
163,759
191,851
759
10,276
11,035
26,745
145,075
182,855
8,293
17,289
1,202,804
1,220,093| |---|---|---| The notes form part of these financial statements Page 4 Four Winds Trust ## Balance Sheet ## 5 April 2023 |Notes
FIXED ASSETS
Tangible assets
5
Investments
6
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
TOTAL FUNDS|5.4.23
Unrestricted
fund
£
275,000
851,437
1,126,437
77,127
(3,507)
73,620
1,200,057
1,200,057
1,200,057
1,200,057|5.4.22
Total
funds
£
186,415
990,612
1,177,027
45,525
(2,459)
43,066
1,220,093
1,220,093
1,220,093
1,220,093| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 20 November 2023 and were signed on its behalf by: S V Charters - Trustee The notes form part of these financial statements Page 5 Four Winds Trust ## Notes to the Financial Statements for the Year Ended 5 April 2023 ## 1. ACCOUNTING POLICIES ## Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## Taxation The charity is exempt from tax on its charitable activities. ## 2. INVESTMENT INCOME |Rents received
Dividends etc.
Deposit account interest
INVESTMENT MANAGEMENT COSTS
Portfolio management
Cottage expenses|5.4.23
£
1,740
32,101
49
33,890
5.4.23
£
9,938
590
10,528|5.4.22
£
1,885
25,306
1
27,192
5.4.22
£
9,507
769
10,276| |---|---|---| ## 3. INVESTMENT MANAGEMENT COSTS continued... Page 6 Four Winds Trust ## Notes to the Financial Statements - continued for the Year Ended 5 April 2023 ## 4. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022. ## Trustees' expenses There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022. ## 5. TANGIBLE FIXED ASSETS |COST OR VALUATION
At 6 April 2022
Revaluations
At 5 April 2023
NET BOOK VALUE
At 5 April 2023
At 5 April 2022
Cost or valuation at 5 April 2023 is represented by:
Valuation in 2007
Valuation in 2023
Cost|Freehold
property
£
186,415
88,585
275,000
275,000
186,415
Freehold
property
£
151,415
88,585
35,000
275,000| |---|---| Property, which comprises a cottage, Kings Close East, Ashbury, Swindon, Wiltshire, was originally inherited at a probate value of £35,000. It is included in the Statement of assets and liabilities at an informal market value in 2022 of £275,000 as it is not practicable to obtain an annual professional valuation on grounds of costs. The property is kept in good condition. continued... Page 7 Four Winds Trust ## Notes to the Financial Statements - continued for the Year Ended 5 April 2023 ## 6. FIXED ASSET INVESTMENTS |FIXED ASSET INVESTMENTS||| |---|---|---| |||Unlisted| |||investments| |||£| |MARKET VALUE||| |At 6 April 2022||990,612| |Revaluations||(139,175)| |At 5 April 2023||851,437| |NET BOOK VALUE||| |At 5 April 2023||851,437| |At 5 April 2022||990,612| |There were no investment assets outside the UK.||| |CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||| |Other creditors|5.4.23
£
3,507|5.4.22
£
2,459| ## 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR ## 8. RELATED PARTY DISCLOSURES In the interests of transparency the Trustees wish to declare the following gifts: ## Simon and Frances Charters Gifts to South Road Church totalling £2,650. Simon and Frances are regular attenders at South Road Church. ## Peter-John and Sue Charters Gifts to Zion United Church totalling £1,000. Peter-John and Sue are regular attenders at Zion United Church Page 8